The last few days y'all have got to witness a wave 3 if you hadn't already. They are powerful moves which give little room for entry/exit. When you're on the right side of them though, man they feel good. Thats why you will hear me mention from time to time that I prefer to trade wave 3's & C's. This C-wave for instance, has dropped $83 in 34 days. Thats almost a 30% drop in market drop...in 1 month. That, my friends, is a C-wave. The funny thing about it, it's not even done. I have been calling for a sub $200 drop since the top & look were everything points to.
I think the indices will play a big role in how far Tesla extends to the down side. However, I stand by my view point I have had for over a month now, and that is we are headed to the low $180's as our most likely bottom for this C wave. After that Tesla is headed to the moon. I assume the indices will be needing a retrace higher around that time and Tesla will help drive it up. If you think about it there are many, many, many reasons for Tesla stock to soar. One that not many are talking about that will revolutionize taxi services...FSD. When this goes wide (only a matter of time) people can literally use their Tesla's as an autonomous taxi while they are at work, sleeping, on vacation, whatever it may be. Bye uber, Bye Turo, Bye every ride sharing company/taxi service out there. This doesn't even scratch the surface of the safety value this adds to everyone. I didn't even mention the power storage, solar power, robots, etc etc. Anyway, just some food for thought.
As far as the analysis there isn't much to add. We extended down to the 1.236 fib line and have some major pos div on the 3min chart along with others. We should start to carve out wave iv tomorrow and raise to the low $230's hopefully tomorrow but NLT Monday (this is a guestimate). Remember the further this extends down the more it pulls wave iv's target down with it. After iv comes v, and it should tag around the 1.382-1.618 fib @ $211.65 - $203.17. That will finish out wave iii of (3) of C and then wave (4) of C starts.
I work again tomorrow so I might not have much time again to watch it. If I make any trades, I will post them on here as always. Good Luck!
Bonam Fortunam,
--Tyler
I think the indices will play a big role in how far Tesla extends to the down side. However, I stand by my view point I have had for over a month now, and that is we are headed to the low $180's as our most likely bottom for this C wave. After that Tesla is headed to the moon. I assume the indices will be needing a retrace higher around that time and Tesla will help drive it up. If you think about it there are many, many, many reasons for Tesla stock to soar. One that not many are talking about that will revolutionize taxi services...FSD. When this goes wide (only a matter of time) people can literally use their Tesla's as an autonomous taxi while they are at work, sleeping, on vacation, whatever it may be. Bye uber, Bye Turo, Bye every ride sharing company/taxi service out there. This doesn't even scratch the surface of the safety value this adds to everyone. I didn't even mention the power storage, solar power, robots, etc etc. Anyway, just some food for thought.
As far as the analysis there isn't much to add. We extended down to the 1.236 fib line and have some major pos div on the 3min chart along with others. We should start to carve out wave iv tomorrow and raise to the low $230's hopefully tomorrow but NLT Monday (this is a guestimate). Remember the further this extends down the more it pulls wave iv's target down with it. After iv comes v, and it should tag around the 1.382-1.618 fib @ $211.65 - $203.17. That will finish out wave iii of (3) of C and then wave (4) of C starts.
I work again tomorrow so I might not have much time again to watch it. If I make any trades, I will post them on here as always. Good Luck!
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
